Gold is struggling to gain any significant traction and is trading in a range on Monday. A modest pullback in the dollar from two-decade highs offers some support for the metal. Expectations of an aggressive tightening by the main central banks could continue to be limited. The Prayed it lacks a firm directional bias and […]
Tag: gold
Gold Price: Break below $1,691/$76 will turn risk to the downside for the next 1-3 months – Credit Suisse
Gold is under new pressure. A major “double top” remains threatening, which would turn risks to the downside for at least the next 1-3 monthsreport Credit Suisse strategists. Break above the 55 DMA at $1,766 to confirm further range “We continue to insist that a closing break below $1,691/76 would be enough to complete a […]
Fifth month of decline for gold under pressure from interest rates
With losses both on a daily and a monthly basis, gold finished the trading of August, which shows that it cannot face the pressures exerted on it by the tightening of the monetary policy and the strengthening of the dollar. In particular, the gold contract for December delivery closed today at $1,726.2 the ounce with […]
Gold falls to a new monthly low below $1,720
Gold was again under bearish pressure in the European session on Tuesday. The 10-year US Treasury bond yield is rising, weighing on XAU/USD. Dollar Index gains ground ahead of jobs data. Having spent the Asian session fluctuating in a relatively tight channel above $1,720, gold turned south during European trading hours and fell to its […]
Gold down 1.2% below $1,750
Gold ended Friday with losses, in the aftermath of Jerome Powell’s speech at the Jackson Hole Economic Symposiumwhere he stressed the need to tame inflation, supporting the outlook for higher interest rates from the Fed. In particular, the chairman of the Federal Reserve reiterated his commitment to contain inflation, warning that he expects the US […]
Gold: XAU/USD still under pressure after Powell’s speech, unable to recover $1,750
Volatility soars after the US data and after Powell’s speech. The Fed chairman maintains a hawkish tone, saying high interest rates will persist for some time. Gold under pressure, after a short-lived rebound above $1,750. The Prayed is having a volatile session, still showing a negative bias after being unable to break through key short-term […]
Gold Price Forecast: XAU/USD dips below $1,755 ahead of Powell’s Jackson Hole speech
Gold sees some selling on Friday and breaks a three-day gain streak after hitting one-week highs yesterday. Fed expectations help revive demand for dollars and put pressure on commodities. Investors will now look to the US PCE data for some momentum ahead of the Fed Chairman’s Jackson Hole appearance. Gold is under some selling pressure […]
Hesitant rise for gold in Powell’s shadow
Gold took advantage of a weaker dollar to move higher today but with contained gains as investors remain cautious until they hear what Chairman Powell has to say about the Fed’s moves tomorrow in Jackson Hole. In particular, the December gold contract ended trading today at $1,771.4 an ounce having gained $9.90 or 0.6%. Even […]
Hold on for gold
Gold was largely unchanged in today’s trading as investors indicated they will wait for some indication of the Fed’s intentions in President Powell’s speech on Friday before deciding how to proceed. Against this backdrop, the gold contract for December delivery settled at $1,761.5 an ounce, gaining just 30 cents, or 0.02%. Elsewhere, metals trends were […]
Gold Forecast: XAU/USD declines as USD nears two-decade highs again
Gold meets fresh supply on Wednesday and trims a portion of overnight gains. Resurgent demand for dollars and rising US bond yields are putting some downward pressure on the metal. Recession fears could help limit XAU/USD losses ahead of Fed Powell’s meeting on Friday. Gold veers south after an early rally to the $1,754 area […]
